Why I voted Yes on H.R. 6169
I voted Yes on H.R. 6169, the Pathway to Job Creation through a Simpler, Fairer Tax Code Act.
H.R. 6169 would establish expedited procedures in Congress for consideration of comprehensive tax reform in 2013. For a bill to be eligible for consideration under the new procedures, it would have to consolidate tax brackets, reduce the business tax rate to 25%, repeal the Alternative Minimum Tax (AMT), maintain revenue levels between 18% to 19% of the economy and change the U.S. tax code from a "worldwide" to a "territorial" system.
This legislation intends to pave the way for much-needed comprehensive reform of our tax code in the 113th Congress, beginning in 2013. Currently, the tax code allows for roughly $1 trillion to be claimed every year through various deductions and credits, allowing some individuals and businesses to pay no income tax at all. Just as importantly to address, our nation has the highest business tax rate in the developed world – making the United States a less attractive place to invest and do business.
We desperately need to undertake a comprehensive overhaul of our complex tax code to ensure that rates in the United States are competitive for businesses, fairer for individuals, and less littered by special interest loopholes that pick winners and losers among our citizens and industries. I supported this legislation because it would create a more orderly and expedited procedure to finally accomplish this much-needed policy goal in 2013.
The bill was approved by a vote of 232 – 189.
Follow Richard:
